lmk's blog

Visit Prospects when You Travel to a Client

Remember that "face time" is the best way to develop a relationship. When you travel to visit a client. Try to schedule an extra day or more to visit some prospects in the same city. The best way to motivate your prospects to want to visit with you is to offer something of value such as a seminar or a brief overview of an important issue. When you meet, be sure to make an offer for the next conversation so you can maintain momentum.

Consider Entertaining as a Biz Dev Tool

One of the best ways to stay connected to quality targets is entertaining a small group. You may consider a dinner party at your home. Or try to blend your recreational interests with a fun event for a small group of targets. The more fun the better. Entertaining a group gives you the ability to mix some current clients with some prospects. The group experience is often easier than 1/1 because everyone mingles creating an upbeat experience. If you're going to do an event, be sure you make a personal phone call.  

Design Your Strategy for Meeting Prospects

For most professionals, the greatest biz dev weakness is a lack of good contacts. Try to make 2016 the year of creating systems to meet more potential clients and referral sources. Start by listing your well-connected contacts. Then consider implementing joint ventures. Then, think about organizations that serve your prospects. Finally, create a list of strangers by observing the names that cross your path throughout the day. You can also purchase lists. Then, start inviting them to webinars and seminars. A big increase in your inventory of prospects will be a big biz dev improvement.

Planning Takes a Lot of Time

One of the problems of biz dev planning is that it is a big topic and takes a lot of time. A good way to do it is to review all the questions in the Questionnaire, but only answer a few. Then let the other questions incubate. If you look at your Questionnaire frequently, and keep answering a few questions, you will get the job done without the discomfort of dwelling on it for too long.

Plan Your Next Event

Producing an event gives you a great reason to reach to your targets. Best sure to include client and prospects so they can mingle.

The Benefits of Biz Dev Joint Ventures

For many professionals, the most important improvement in biz dev is meeting more new prospects. One of the best ways to meet new prospects is to implement joint ventures with contacts who are well-connected to your target market. Let's say you are an architect. If you know a real estate agent who has good contacts, you could join forces to implement a seminar. Each of you would invite your contacts. As a result, both of you would meet the contacts of the other. You could multiply the benefit by increasing the number of joint venture partners.

Holiday Biz Dev Tips

The Holiday Season is one of the best times for your outreach. Here are some tips

1. Attend as many well-targeted holiday events as possible. Be sure to negotiate the next interaction before you end a conversation.

2. Make your Holiday phone calls. Try to call as many of your best contacts to sincerely wish them a happy Holiday Season and a safe and prosperous New Year. Don't talk about business unless they bring it up. Try to arrange for some interaction in the coming year.

Acknowledge Your Successes

Developing your ability to acquire new clients may take a long time. You need to meet good targets, build trust, clarify needs, get approved and close. So you can't wait to close accounts as the only to measure your success. You need to congratulate yourself as you accomplish tasks on the road to closing deals. That way you will be able to maintain your enthusiasm and keep pushing for success.

Review Your Targets Frequently

A key to improving your biz dev is to immerse yourself in thinking about who is important to you and how you plan to pursue the relationship. If time is our most important asset, when it comes to biz dev, priortizing is our most important skill. Remember that the landscape is constantly changing and new opportunities may deserve priority attention. In the early stages of your biz dev improvement, you should review your targets daily. You can program BizDevCoach to send you daily reminders to visit the site.

Consider a Signature Event

One of the best ways to stay connected to your contacts is offering an event. If your contacts are local you could invite them to physically attend. If they are too far away, you could do a webinar. The event should be something of value to your contacts. It could be just for fun, such as a tailgate party, or night at a concert. It could be educational. You may want to invite an interesting guest speaker. But the most important thing is that it is something that your contacts will find worthwhile. If you can create an event that your contacts really enjoy, you could repeat it.


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